Manager urges investors not to focus on short-term performance as trust returns 81% over year to 31 March in contrast to last year's declines

Winterflood research claims liquidity issues are making smaller investment trusts less attractive to investors

US authorities are investigating whether Morgan Stanley misled investors over mortgage derivatives, according to the Wall Street Journal.

The FTSE edged higher while sterling fell from a 10-month high on the first day of the UK's new coalition Government.

BNP Paribas subsidiary Harewood Solutions is launching an income fund which aims to pay 8% annually, but offer considerably less volatility than the FTSE 100.

Assets under management within fund of funds have reached a record level of £46.5bn, according to the IMA.

Spain finally emerged from recession in the first quarter of 2010, following nearly two years of negative growth.

Old Mutual's Philip Hunter has reduced exposure to China as smaller countries in Asia experience a pick-up in economic growth.

Santander's Hak Salih has been increasing his fund's exposure to defensive stocks, believing the UK economy will remain volatile for a number of years.

The FTSE 100 plunged 1.71% or 89.76 points to 5171.23 this morning as shares were hit by the prospect of a hung parliament in the UK and worries over the Greek debt crisis.